Press release 22.06.2011
CropEnergies Increases Outlook After Strong 1st Quarter
Mannheim, 22 June 2011 - CropEnergies AG, Mannheim, started into the financial year 2011/12 (1 March 2011 - 29 February 2012) with a strong 1st quarter. Revenues increased by 41 percent to EUR 132.1 (previous year: 93.5) million compared to the previous year. At the same time, operating profit was improved to EUR 15.3 (previous year: 2.4) million. The main reason for the increase in revenues and profits was the higher utilisation of the production plants. In the 1st quarter of the previous financial year, there had been extensive maintenance and revision phases at the plants in Zeitz and Wanze.
After the good start into the financial year, CropEnergies takes the opportunity to increase the outlook for the full financial year 2011/12 and now expects revenues to rise to EUR 520 to 570 (previous year: 473) million. The operating margin is expected to approximately reach the previous year's level of ca. 10 percent.
The report for the 1st quarter 2011/12 will be published on 12 July 2011 on www.cropenergies.com.
CropEnergies - a member of the Südzucker Group - is a leading European manufacturer of sustainably produced bioethanol for the fuel industry, with an annual output of over 700,000 cubic meters of bioethanol. "Crop" stands for "creative regeneration of power": Energy in the form of bioethanol is produced from renewable resources - grain and sugar beets. CropEnergies also refines the co-products of bioethanol production into over 500,000 tonnes of high-quality food and animal feed.
CropEnergies sees itself as a pioneer in the German bioethanol market and is expanding its market position throughout Europe. With three modern production sites and two tank storage facilities, CropEnergies has an efficient production and sales network in the European growth market for renewable energies. The shares of CropEnergies AG (ISIN DE000A0LAUP1) are listed in the regulated market (Prime Standard) on the Frankfurt Stock Exchange.
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